Do You Have a Healthy Real Estate Contact Management Database?

A healthy real estate contact management database will lead to more referrals and leadsThe below article is a re-blog by Real Estate Coach Bruce Keith. The article underscores what can happen for Agents who embrace real estate contact management in their business. If you’re using IXACT Contact’s real estate CRM on a daily basis, your contact with clients will become more meaningful and productive, your database will continue to grow, and you’ll see an increasing amount of referrals flow your way.

Bruce’s article is below:

WATERING YOUR GARDEN… for most Salespeople their most valuable asset is their Database… you know, your list of Past Clients and Centers of Influence. For obvious reasons it is your “most valuable asset” because of the Trust Factor. They know you and trust you and as a result they will either do business with you again or send you referrals. It is the easiest business to secure by far. Ironically this list does not always get the attention it deserves! Sometimes Salespeople forget to “water their garden” and the crops start to die.

Here Is the Evolution Of a Dying Real Estate Contact Management Database:

Stage #1. You don’t call them often enough to keep in touch.

Stage #2. When you finally do call them, the conversation takes too long because there is so much “catching up” to do.

Stage #3. Because Stage #2 becomes tedious, you avoid calling them again.

Stage #4. Because the Database doesn’t hear from you, you are not “top of mind”. The next time they need your services they go elsewhere and do the same with their referrals.

Stage #5. Your Database dies off and your “most valuable asset” shrinks rapidly. Your crops are dying!

Here is your ACTION STEP… in order to protect your “most valuable asset” it is critical to make sure you are “watering your garden” on an ongoing basis.

Here Is the Evolution of a Healthy Real Estate Contact Management Database:

Stage #1. You establish a “frequency of contact” minimum standard for your Database (eg: a phone call every 90 days and a mailing piece/e-mail every 90 days). Whatever frequency you decide just remember to be consistent.

Stage #2. The conversations don’t take long because the “catching up” time is much shorter.

Stage #3. Your contact is meaningful and productive… Asking for Referrals becomes a natural part of the relationship.

Stage #4. Business regularly flows your way because when you consistently “water your garden”, the results are pleasantly predictable.

Stage #5. BONUS: Your Database continues to grow. Why?… The results you are generating encourage you to add more names on an ongoing basis. It’s working!

So the choice is yours… look after your “most valuable asset” on a regular basis and  your business will thrive (if you don’t, someone else will be harvesting from your garden!). Start by looking at your existing Database, set up a regular follow-up system that outlines your “frequency of contact” and put it in your calendar. Remember the two keys… frequency and consistency.  NO Excuses.

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Do you embrace contact management in your business or is it something you’ve avoided?